$68B Calif. High-Speed Rail Plan Goes Back To Drawing Board

Law360, San Francisco (November 25, 2013, 7:13 PM EST) -- A California state judge Monday barred the state from selling voter-approved bonds to fund its high-speed rail project and ordered officials to rewrite the railway's $68 billion funding plan, finding that it failed to meet all state-law requirements and could wind up wasting taxpayer money.

Sacramento Superior Court Judge Michael Kenny's rulings in two separate cases involving the California High-Speed Rail Authority effectively blocked the agency from moving ahead with issuing bonds or spending more money on construction until the funding plan is redrafted.

In a...
To view the full article, register now.